Token Company (a sole proprietorship) sold assets in the current tax year as described in the chart below. Compute the gain or loss from each asset disposition and determine the net 1231 gain treated as long-term capital gain for the year. Assume there is a 1231 lookback loss of $14,000.

Asset Aquired Sold Cost Depreciation Sales Price

Equipment 3/10/14 8/10/18 $40,000 $29,736 $2,000

Factory building 2/12/11 7/23/18 $80,000 $18,838 $90,000

Forklift 5/16/13 11/13/18 $52,000 $52,000 $60,000

Floor Conveyor 11/12/07 2/25/18 $74,000 $74,000 $18,000